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CarGurus Unveils the Best Used Cars for 2024, Preparing Shoppers for the Ideal Time to BuyCAMBRIDGE, Mass., Jan. 24, 2024 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today released its 2024 Best Used Car Awards. Referencing an expansive set of pricing and availability data, consumer trends, and experience test driving over a thousand cars, CarGurus’ panel of expert reviewers has identified the best used cars in 11 categories, including the best family car; city car; large, small, and midsize SUV; and the best overall used car, recognized with the CarGurus Used Car of the Year Award. The awards come in time for shoppers to prepare for the best time to buy a used car in 2024, according to CarGurus research. An analysis of national weekly average price and inventory data for the past seven years, accounting for pre- and post-COVID market shifts, revealed that buying a used car during the week of February 12 could, on average, amount to a 2.8% savings compared to the average week - with access to over 6% more listings. Based on the current average used car listing price of $28,731, consumers have the potential to save approximately $800 on a purchase during this time. “With many shoppers feeling the pinch of higher interest rates and new car prices remaining 30% above pre-pandemic levels, all eyes will be on used cars as a more cost-effective alternative to finding a great deal this winter,” shares Matt Smith, CarGurus Deputy Editor. “Now in its sixth year, the CarGurus Best Used Car Awards aim to help consumers pinpoint their ideal car match with added confidence.” A preview of the 2024 CarGurus Best Used Car Award winners include:
Methodology: CarGurus Used Car Award nominees were selected from car models at least two years old and originally for sale in the U.S. Nominees were shortlisted on criteria including availability and search interest on CarGurus. CarGurus’ expert team of vehicle reviewers evaluated each vehicle, after which the accumulated data was analyzed to determine this year’s winners. Of note: Due to the limited variety of electric vehicle (EV) models on the market two years ago, this segment has been excluded this year. CarGurus expects to feature its first-ever Used Car Awards EV category in 2025. About CarGurus CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S.1 CarGurus also operates online marketplaces under the CarGurus brand in Canada and the U.K. In the U.S. and the U.K., CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands. To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com. CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks, and registered trademarks are the property of their respective owners. 1 Similarweb: Traffic Insights, Q3 2023, U.S. Media Contact: |